Bitcoin exchanges (cryptsy in particular)

avw1982

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Quote from: MyBTT on December 16, 2015, 12:28:11 AM

Quote from: andrewboy44 on December 15, 2015, 02:41:18 PM

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

They are blatant scams that steals bitcoins. That shouldn't be called profit.

When I checking cryptsy.com we looked at many factors, such as the ownership details, location, popularity and other sites relating to reviews, threats, phishing etc. Although a site like may have a high trust rating, it's worth just checking the countries involved as these could indicate that goods would be shipped from abroad rather than your home country

Pollak

full member

Activity: 182

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Pollak

The moment exchanges hold your funds, stop using them and inform other users.
Exchanges losing customers run scared and they will adjust their policy, if not they will go broke eventually.

nwfella

legendary

Activity: 1582

Merit: 1000

Well hello there!

Definitely don't recommend keeping anything but dust in cryptsy wallets right now. Though I've been using them for quite sometime I can't ever remember a time where things have been as bad as they have been this past month and a half.

ultimatesky

hero member

Activity: 714

Merit: 500

SkyFall

Cryptsy did got some bashing but all the withdrawals did came true right.

The amount of topics here is crazy. This guy Big Vern is a public figure, will he risk all that?

bhokor

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Merit: 1000

Quote from: randy8777 on December 17, 2015, 08:00:56 PM

altcoin exchanges don't need to scare people. they are earning big money from pos coins that they have in their cold wallets from all their users. they can simply dump the staked coins and get the money. it's easy and free profit.

It is sad but true and really it is killing slowly a lot of coins, the fair would be the exchanges pay the stake to the coin owners and they take only a fee of it, not the whole like actually

bctmke

sr. member

Activity: 294

Merit: 250

Surprisingly overnight I got a reply to them from a query I sent ages ago. Their peercoin wallet was non-functional. Conveniently it has been restored.

andrewboy44

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Activity: 252

Merit: 250

Quote from: Blawpaw on December 17, 2015, 12:54:00 PM

Quote from: andrewboy44 on December 15, 2015, 02:41:18 PM

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

I don't think they are playing a good strategy. Once they start to halt withdraws people start to panic and try to get their coins. this causes even more difficulties for the exchange to satisfy the customers requests

I don't think they are worried about satisfying us. If they can stock pile alt coins, freeze wallets, then be the only ones that can withdraw btc they make bank because people will pay for overpriced alt coins.

randy8777

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altcoin exchanges don't need to scare people. they are earning big money from pos coins that they have in their cold wallets from all their users. they can simply dump the staked coins and get the money. it's easy and free profit.

Blawpaw

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Activity: 1596

Merit: 1027

Quote from: andrewboy44 on December 15, 2015, 02:41:18 PM

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

I don't think they are playing a good strategy. Once they start to halt withdraws people start to panic and try to get their coins. this causes even more difficulties for the exchange to satisfy the customers requests

Amph

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Activity: 3206

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Quote from: andrewboy44 on December 16, 2015, 12:36:48 AM

People please stop posting that cryptsy is a scam and suggesting what I should do in the future to not lose coins. I didn't post this for help over the lost coins! I posted this to suggest a possible unmoral technique cryptsy might be using to pump and dump coins on their market. If they're doing what I think they're doing they are having a success rate of basically 100%.

well they indeed appear to be scammer now, i dunno why they are dojg what they are doing

but this https://bitcointalksearch.org/topic/m.13275094 remind me that they are not trustworthy anymore

andrewboy44

sr. member

Activity: 252

Merit: 250

People please stop posting that cryptsy is a scam and suggesting what I should do in the future to not lose coins. I didn't post this for help over the lost coins! I posted this to suggest a possible unmoral technique cryptsy might be using to pump and dump coins on their market. If they're doing what I think they're doing they are having a success rate of basically 100%.

Kepler510

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Power The world for FREE!

Cryptsy is now a scam. and maybe you should move on about your coin.

And start with a coin in the other.

MyBTT

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Activity: 378

Merit: 250

Quote from: andrewboy44 on December 15, 2015, 02:41:18 PM

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

They are blatant scams that steals bitcoins. That shouldn't be called profit.

The Sceptical Chymist

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Merit: 6887

Top Crypto Casino

Quote from: Bayuu on December 15, 2015, 03:21:34 PM

Cryptsy already turned scam. Say goodbye to your coins and move on.

Fuck that, that only encourages people to start exchanges and scam people. What this gentleman needs to do is get his coins back, however he can. And yeah this could be to profit but probably not. They're losing all of their customers because of this. There's not going to be any exchange left.

mayax

legendary

Activity: 1456

Merit: 1004

Quote from: Xubu on December 15, 2015, 06:38:09 PM

Quote from: twister on December 15, 2015, 06:35:20 PM

Quote from: Bayuu on December 15, 2015, 03:21:34 PM

Cryptsy already turned scam. Say goodbye to your coins and move on.

I think it's because they're out of funds, these exchanges convert the bitcoins to fiat and vice versa and when the price is up they don't want to buy because they will lose money and which is why they hold withdrawals. Exchanges are the biggest scams in Bitcoin world, run one legit for some time, let the bitcoiners think it's trustworthy and when you have enough, make up a story that it was hacked, wait a while then come back with a new name.

The thing is whenever you send bitcoins from your wallet to anywhere, there is no assurance that you will get them back. There are legit services/exchanges but it's so hard to know which is which.

True. I lost a fortune with Mt Gox. Since i am very sceptic about exchanges.

what does mean a fortune for you? give some numbers.

tobacco123

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Activity: 552

Merit: 250

Keeping bitcoin in exchanges is always risky. There is no one out there protecting your money- you can only depend on "blinded" trust. Get your money out as soon as possible. Keep the transaction amount small.

Bitcoinpro

legendary

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Merit: 1000

the name was cryptsy wat a dead give away

Xubu

full member

Activity: 252

Merit: 100

Its quite simpel scam business model.

1. Setup company
2. gain lots of trust and reputation
3. Misuse that trust and reputation AND TAKE IT ALL

Step 3 is happening now.

thejaytiesto

legendary

Activity: 1358

Merit: 1014

I and a lot of other people have been trying to get in contact with Cryptsy and they are ignoring us, they even made the chatbox to registered only most likely because they don't want to see non registered people to see the amount of people complaining to mods in the chatbox about how they can't withdraw their money. Luckly I only had altcoin trash in Cryptsy but still annoys me that I can't sell it and get some sats out of it.

Luqman

sr. member

Activity: 826

Merit: 263

Say goodbye to your coins man, Cryptsy is abslotely turned into scam exchange. I have leave this sucks exchange few months ago.. Move on

Topic: Bitcoin exchanges (cryptsy in particular) (Read 1722 times)